Streetbeat News

Acquisitions Mergers

BAK

Shares of Brazilian petrochemical producer Braskem (BAK) surged 25% in premarket trading following a report by Valor Economico that Abu Dhabi's Adnoc has made a new offer to acquire a stake in the company.

Portfolio Pulse from Charles Gross

November 09, 2023 | 10:52 am

AZN

AstraZeneca and Eccogene have entered into an exclusive license agreement for ECC5004, a drug aimed at treating obesity, type-2 diabetes, and other cardiometabolic conditions. Eccogene will receive an initial upfront payment of $185M and could potentially receive an additional $1.825B in milestone payments.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:44 am

CMCSA

DIS

The Walt Disney Co. (NYSE:DIS) plans to launch a unified Disney+ Hulu app in beta next month, with an official launch scheduled for Spring 2024. The app will be available to subscribers of both services, aiming to reduce costs and subscriber churn. This move aligns with Disney's strategy to provide a 'one-app experience' for US subscribers. Disney is also on track to complete the purchase of Comcast Corp.'s (NASDAQ:CMCSA) 33% stake in Hulu for $8.6 billion.

Portfolio Pulse from Rounak Jain

November 09, 2023 | 8:28 am

BHAC

FIAC

Focus Impact Partners has completed the acquisition of a majority of the sponsor shares and private placement warrants of Crixus BH3 Acquisition Company (NASDAQ:BHAC), a special purpose acquisition company (SPAC). Post-acquisition, the company has been renamed to Focus Impact BH3 Acquisition Company. This is the second SPAC controlled by Focus Impact, the first being Focus Impact Acquisition Corp. (NASDAQ:FIAC). Both SPACs are aimed at finding socially forward companies for business combination targets.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:43 am

DIS

Disney's streaming service in India, Disney+ Hotstar, reported a loss of approximately 2.8 million subscribers from July to September, according to its Q3 earnings report. This follows the loss of rights to broadcast the Indian Premier League, which led to nearly 23 million subscribers leaving the platform in the past year. Meanwhile, Disney+ core subscriber count saw a 7% increase in the quarter. Rumors suggest Disney is planning to sell its business in India, with Mukesh Ambani being the leading contender for the acquisition.

Portfolio Pulse from Utkarsh Roshan

November 09, 2023 | 5:43 am

BTCUSD

Economist Nouriel Roubini, known for his criticism of cryptocurrencies, has launched his own stablecoin, the Atlas Climate Token (ACT). The move has been criticized by Binance CEO Changpeng Zhao, who accused Roubini of using the Binance logo without permission. ACT is designed to be pegged to a portfolio of real-world assets, and Atlas is in discussions with top-tier ETF issuers and distributors for the launch of an ETF.

Portfolio Pulse from Mehab Qureshi

November 09, 2023 | 4:58 am

ARKF

ARKK

ARKW

GBTC

HOOD

PACB

ROKU

TXG

Cathie Wood's Ark Invest purchased over $9.5 million worth of shares in Robinhood Markets Inc (NASDAQ:HOOD), despite its mixed third-quarter earnings report. The shares were purchased through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). Ark also increased stakes in Pacific Biosciences of California (NASDAQ:PACB) and 10X Genomics Inc (NASDAQ:TXG), sold Roku Inc (NASDAQ:ROKU) shares, and divested from Bitcoin Investment Trust (OTC:GBTC).

Portfolio Pulse from Benzinga Neuro

November 09, 2023 | 4:42 am

LLY

PNT

Eli Lilly and Company (LLY) has extended its tender offer to acquire POINT Biopharma (PNT) from Nov. 9, 2023, to Nov. 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 11:13 pm

AGBA

AGBA Group Holding Limited has entered into term sheets for a private placement offering amounting to $6.2 million. The purchase price of the Share Placement will be $0.70 per ordinary share of the Company and associated warrants. The Share Placement is expected to fuel the company's expansion and accelerate its path to profitability. It will also enhance the company's financial flexibility and enable it to pursue strategic acquisitions to strengthen its market position.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:53 pm

BILL

Bill Holdings is reportedly close to finalizing a $1.95 billion deal to acquire payments company Melio, according to Bloomberg. The deal is yet to be officially announced.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:39 pm